Overseas investment decision for case 202100802 - ATC New Zealand Limited

Consent granted
Section 12(1)(b) Overseas Investment Act 2005 

An overseas investment in sensitive land, being the Applicant’s acquisition of 100% of the shares in Clearspan Property Limited (Company number 1923998) that holds the following interests in sensitive land, including farm land and residential land.
See table below for detail

ATC New Zealand Limited
USA (72%)
United Kingdom (4.7%)
Canada (3.2%)
Switzerland (2.2%)
France (1.7%)
Germany (1.7%)
Various (14%) 

Mark James Wheeler and Wheeler Trustee Services Ltd as trustees of the MJW Trust
New Zealand (100%) 

Mogridge and Associates Limited
New Zealand (100%) 

Jo-An Christine O'Sullivan
New Zealand (100%) 

The Applicant is a New Zealand company that is ultimately owned by American Tower Corporation, an American company that is a global owner, operator, and developer of wireless and broadcast communications real estate. 

The Applicant seeks consent to acquire 100% of the shares in Clearspan Property Limited (“CPL”). CPL has developed a portfolio of ‘land under tower’ assets since 2007, in which CPL acquires (via a wholly owned subsidiary) an interest in land that has been leased by a landowner to a telecommunication tower provider (“Telco”), and retains the interest in land as a long-term investment receiving rent from the Telco. The Applicant wants to acquire CPL (and its interests in land) to grow CPL and to invest in the New Zealand communications industry. 

The investment is likely to result in new jobs and a significant level of capital investment resulting from the Applicant's proposed growth strategy for new site acquisitions. The investment is also likely to reduce the chance that the shares in CPL (a mature, novel to New Zealand, and high value business) become stranded, and may advance government policy around digital inclusion and supporting communications infrastructure. 

Consent was granted to the investment because the benefits likely to occur as a result of the investment are of a size or nature that represent a substantial benefit to New Zealand (having regard to the sensitivity of the Land and the nature of the overseas investment transaction, reflecting the proportional nature of the benefit to New Zealand test), such that the modified benefit test for farm land is met. 

Bede Maher
Anderson Lloyd
P O Box 399
Shortland Street
Auckland 1140 

1 

Cove Road, Mangawhai 

0.0565 

Fee Simple - 1/1 share 

2 

High Street, Whangarei 

0.0541 

Leasehold - 1/1 share 

3 

25 Matapouri Road, Ngunguru 

28.8100 

Fee Simple - 1/1 share (leased area of approximately 450 m²) 

4 

92 Totara Rd, Ararimu 

72.2499 

Fee Simple - 1/2000 share 

5 

Mahurangi East Road, Snells Beach 

1.3476 

Fee Simple - 71/10000 share 

6 

143 Upper Harbour Drive, North Shore 

0.8650 

Fee Simple - 93/10000 share 

7 

284 Airport Road, Waipa 

25.0000 

Fee Simple - 1/2000 share 

8 

66 Buchanan Road, Bay View 

4.0393 

Fee Simple - 1/250 share 

9 

121 Upper Herengawa Road Waverly 

111.0294 

Fee Simple - 1/10000 share 

10 

468 Wharawhara Road, Bay of Plenty 

5.5280 

Fee Simple - 29/10000 share 

11 

28 Blueskin Road, Westmere 

17.4344 

Fee Simple - 1/2000 share 

12 

SH 14 Tangiteroria, Kirikopuni 

295.8250 

Fee Simple - 1/20000 share 

13 

State Highway 1, Kaiwaka 

24.1592 

Fee Simple - 1/2000 share 

14 

555 SH 5 Eskdale 

422.1072 

Fee Simple - 1/50000 share 

15 

Main South Road, Otorohanga 

35.8571 

Fee Simple - 39/10000 share 

16 

190D Lonely Track Road, Albany Heights 

1.1174 

Fee Simple - 1/200 share 

17 

506 Orari Station Road, Geraldine 

96.0000 

Fee Simple - 1/4000 share 

18 

609, Quine Road, RD3, Tahuna 

255.6211 

Fee Simple - 1/26000 share 

19 

439 Paparamu Road, Piarere 

6.3920 

Fee Simple - 1/500 share 

20 

32 Golf Road, Manor Park 

32.6315 

Fee Simple - 17/10000 share 

21 

Callaghan Road, Northland 

14.4038 

Fee Simple - 1/1300 share 

22 

609, Quine Road, RD 3, Tahuna 

255.6211 

Fee Simple - 1/26000 share 

23 

187 Ramparts Road, Southland 

3.8505 

Fee Simple - 1/350 share 

24 

471 Sainsbury Road, RD 6, Te Awamutu 3876 

91.6333 

Fee Simple - 1/1550 share 

25 

12 Mendip Road, Cheviot 

748.8369 

Fee Simple - 1/4000 share 

26 

388 MacGibbon Road, RD 1 

81.1684 

Fee Simple - 1/8500 share 

27 

12 Lex Street, Riverton 

11.9534 

Fee Simple - 1/185 share 

28 

12 Lex Street, Riverton 

12.9373 

Fee Simple - 1/185 share 

29 

Mt Michael Road, Mackenzie District 

82.1300 

Fee Simple - 1/3500 share 

30 

1456 Church Road, Kaingaroa 

14.7920 

Fee Simple - 1/2000 share 

31 

18 Beacon Road, Riverhead 

2.6813 

Fee Simple - 1/322 share 

32 

96-110 Kaipara Coast Highway 

5.1246 

Fee Simple - 1/540 share 

33 

185 Factory Road, RD 26, Temuka 

0.4047 

Fee Simple - 1/57 share 

34 

Stockyard Bay, Bon Accord Harbour, Bon Accord 

27.9107 

Fee Simple - 1/1180 share 

35 

6718 Kenepuru Road, Kenepuru Sound 

50.9904 

Fee Simple - 1/5666 share 

36 

58 Piako Road, Gordonton 

23.2900 

Fee Simple - 3/1250 share 

37 

32 Golf Road, Manor Park 

32.6315 

Fee Simple - 1/20000share 

38 

1173 Malvern Hills Rd, Sheffield 

412.1167 

Fee Simple - 1/56000 share 

39 

64 Terrace Road, Leithfield 

5.1740 

Fee Simple - 1/517 share 

40 

19 Orapiu Road, Waiheke Island, Auckland 

77.9984 

Fee Simple - 1/2800 share 

41 

2108 Skeet Road, Taranaki 

0.0941 

Fee Simple - 1/254 share 

42 

State Highway 1, Pakaraka 

70.0000 

Fee Simple - 1/589 share 

43 

Motukiore Road, Northland 

77.6652 

Fee Simple - 1/3570 share 

44 

Motukiore Road, Northland 

2.0022 

Fee Simple - 1/3570 share 

45 

398 Camp Road, Linton 

43.0004 

Fee Simple - 1/1807 share 

46 

82 Whitehaven St / Breakneck Road 

54.8349 

Fee Simple - 1/11424 share 

47 

488 Diagonal Road, RD 1, Te Aroha 

51.4381 

Fee Simple - 1/5144 share 

48 

233 Marsh Road, Southbrook 

0.9234 

Fee Simple - 1/62 share 

49 

3196 Paparoa- Oakleigh Road, Paparoa 

32.3749 

Fee Simple - 1/3237 share 

50 

State Highway 6, Seaview, Hokitika 

30.3134 

Fee Simple - 1/408 share 

51 

2731 SH29, Kaiami 

42.9250 

Fee Simple - 1/1800 share 

52 

707962 Hawksburn Road, Clyde 

368.5900 

Fee Simple - 1/7171 share 

53 

1758 Cove Road, Molesworth 

58.9450 

Fee Simple - 17/21000 share 

54 

10 Lauriston Barrhill Road, Ashburton 

11.2780 

Fee Simple - 1/55 share 

55 

SH2 Featherston Road, Featherston 

25.4952 

Fee Simple - 1/4256 share 

56 

SH2 Featherston Road, Featherston 

6.3980 

Fee Simple - 1/4256 share 

57 

Crail Bay Road, Picton 

167.6550 

Fee Simple - 1/380 share 

58 

Hay Road, Palmerston 

109.7786 

Fee Simple - 1/843 share 

59 

5138 Te Araroa Road, Hicks Bay 

72.0821 

Fee Simple - 1/2160 share 

60 

292 Quarry Road, Waikouaiti 

30.0400 

Fee Simple - 1/2955 share 

61 

292 Quarry Road, Waikouaiti 

50.9359 

Fee Simple - 1/2955 share 

62 

356 Lyalldale Middle Road, Waimate 

35.8419 

Fee Simple - 1/1828 share 

63 

10 Rangitane Road, Northland 

8.2350 

Fee Simple - 1/403 share 

64 

SHW 1 Moerewa / Pakaraka 

10.4226 

Fee Simple - 1/589 share 

65 

595 Whitford Road, Whitford, Auckland 

3.9880 

Fee Simple - 1/516 share 

66 

63 Halcombe Road, Halcombe 

7.6848 

Fee Simple - 1/1023 share 

67 

101-117 Masters Road, Waiuku 

0.9160 

Fee Simple - 1/75 share 

68 

101-117 Masters Road, Waiuku 

8.4672 

Fee Simple - 7/20000 share 

69 

87 Holdens Road, Clevedon 

18.5196 

Fee Simple - 3/5000 share